From Beta to Bedrock: Building Sticky Financial Products
This article critiques the common pitfall of feature-first development in financial product design, where companies often add excessive functionalities to satisfy internal politics rather than user needs. The author argues that this approach leads to bloated, confusing applications described as a 'feature salad.' Instead, the piece advocates for the 'bedrock' concept, which focuses on identifying and perfecting the core elements that provide lasting value to users, such as regular servicing journeys in retail banking. By adopting a Minimum Viable Product (MVP) mindset, prioritizing simplicity, and having the courage to reject unnecessary additions, product builders can create stable, trustworthy, and engaging experiences. The text emphasizes that successful products are not defined by the quantity of features but by the reliability and ease of fundamental tasks. It suggests that developers must resist the 'Columbo Effect' of adding just one more thing and instead focus on delivering a clear value proposition. This strategy requires overcoming internal resistance and sometimes employing opinionated design choices to maintain focus on what truly matters to the customer, ensuring the product remains relevant and dependable over time.
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From Beta to Bedrock: Building Sticky Financial Products
This article critiques the common pitfall of feature-first development in financial product design, where companies often add excessive functionalities to satisfy internal politics rather than user needs. The author argues that this approach leads to bloated, confusing applications described as a 'feature salad.' Instead, the piece advocates for the 'bedrock' concept, which focuses on identifying and perfecting the core elements that provide lasting value to users, such as regular servicing journeys in retail banking. By adopting a Minimum Viable Product (MVP) mindset, prioritizing simplicity, and having the courage to reject unnecessary additions, product builders can create stable, trustworthy, and engaging experiences. The text emphasizes that successful products are not defined by the quantity of features but by the reliability and ease of fundamental tasks. It suggests that developers must resist the 'Columbo Effect' of adding just one more thing and instead focus on delivering a clear value proposition. This strategy requires overcoming internal resistance and sometimes employing opinionated design choices to maintain focus on what truly matters to the customer, ensuring the product remains relevant and dependable over time.
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